National is taking to the road this week to explain why it doesn't support the Government's superannuation fund.

A four-person taskforce - Finance spokesman Bill English, frontbenchers Dr Lockwood Smith and Tony Ryall, and Senior Citizens spokeswoman Dr Lynda Scott - will travel the country in coming weeks to discuss National's position on the issue dubbed the 'cornerstone' of next year's election battle.

"This debate is bigger than just superannuation. It's about the sort of New Zealand we want to live in and how we can lift the standard of living of all New Zealanders," Bill English said.

"National will use the Super Tour to discuss options for its policy on savings. We are interested in people's views on savings incentives and individual accounts.

"National supports Part 1 of the New Zealand Superannuation Bill which guarantees the future level of pension entitlement. It doesn't support the second part which sucks billions of dollars from the Government's purse for a huge superannuation savings account.

"The Finance Minister's plans to commit on average $2 billion a year for the next 25 years to fund the scheme will cause too much pain now, for too little gain in the future.

"Savings matter, but not at any cost. We are already seeing the pressure the Superfund is placing on key areas like health and education spending and the Government will have increasing difficulty trying to meet the required contributions.

National's Super Tour begins in Coromandel on Thursday and will travel the country over the next eight weeks.

Ends

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